Stories
Allied Blenders Promoter Sells 2% Stake for Rs 357 Crore to Meet Public Shareholding Norms
- •Bina Kishore Chhabria, a promoter of Allied Blenders and Distillers (ABD), divested a 1.96% stake in the company for Rs 357 crore through an open market transaction.
- •The sale involved 55 lakh shares at an average price of Rs 650.17 apiece, reducing Chhabria's holding to 56.24% from 58.20%.
- •This stake sale aligns with ABD's promoter's plan to comply with minimum public shareholding norms.
- •SBI Mutual Fund acquired 34 lakh shares and Abu Dhabi Investment Authority bought over 15 lakh shares of ABD at Rs 650 apiece.
- •ABD, known for Officer's Choice Whisky, reported an 18.65% decline in Q1 FY27 consolidated net profit to Rs 45.42 crore, despite a 1.84% rise in revenue to Rs 1,809.15 crore.
Key Questions Answered
Bina Kishore Chhabria, one of the promoters of Allied Blenders and Distillers, divested nearly a 2 per cent stake in the company for Rs 357 crore through an open market transaction. The stake sale was executed to comply with minimum public shareholding norms.
SBI Mutual Fund acquired 34 lakh shares of Allied Blenders and Distillers, while the Abu Dhabi Investment Authority purchased a little over 15 lakh shares at an average price of Rs 650 apiece.
In the June quarter of FY27, Allied Blenders and Distillers reported an 18.65 per cent year-on-year decline in consolidated net profit to Rs 45.42 crore due to global supply chain disruptions. Meanwhile, its revenue from operations grew by 1.84 per cent to reach Rs 1,809.15 crore compared to the year-ago period.
